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| Vornado completes refinancing of 555 California Street Vornado Realty Trust (NYSE:VNO), a New York based real estate investment trust, announced that it has completed a $600 million refinancing of 555 California Street, a three-building office complex aggregating 1.8 million square feet in San Francisco's financial district, known as the Bank of America Center, in which Vornado owns a 70% controlling interest. The 10-year loan bears interest at 5.10%. The loan amortizes based on a 30-year schedule beginning in the 4th year. The proceeds of the new loan and $45 million of existing cash were used to repay the existing loan and closing costs. write your comments about the article :: © 2011 Construction News :: home page |